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Established Member
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Posts: 15
Registered: ‎09-06-2013
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Sallie Mae & Nelnet TL's falling off reports!!

[ Edited ]

It's been a long 2 years but I have finally bounced back from the low 500's!!

 

Sallie Mae was reporting twice on my reports. 1 tradeline was under Sallie Mae and the other under the Guarantor. Same thing with Nelnet. I paid those loans off early last year but nither lender would remove from my reports until 7 years were up. I also had a few other baddies on my reports which I have since resolved. A couple months ago, the Guarantors started removing there tradelines.

 

Fast Forward, Today we reached 7 years and the Sallie Mae and Nelnet tradelines have begun to fall off. Actually, my TU and EX are now completely clean and those scores jumped 75-85 points. Equifax still has the Sallie Mae tradeline which should be gone soon. Once it falls off, I'll check that score. 

 

I'm finally, I think for the first time in my life (Never checked my Credit or Scores before 2 yrs ago), in the mid 700's :smileyvery-happy: :smileyvery-happy: :smileyvery-happy:

 

Thanks in large part to this community for all the advice and suggestions over the years!! Thank You!!


02-2012 FICO Score: EX 500 EQ 500 TU 500
09-2013 FICO Score: EX 653 EQ 627 TU 651
10-2014 FICO Score: EX 753 EQ 715 TU 757
Goal FICO Score: EX 800 EQ 800 TU 800
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TheFate
Posts: 474
Registered: ‎06-19-2014
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Re: Sallie Mae & Nelnet TL's falling off reports!!

Congrats! I know that was a long awaited journey... I sense an App spree coming soon!




Starting Score:532
Current Score:692
Goal Score:720

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Established Member
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Posts: 15
Registered: ‎09-06-2013
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Re: Sallie Mae & Nelnet TL's falling off reports!!


TheFate wrote:

Congrats! I know that was a long awaited journey... I sense an App spree coming soon!


Thanks. I actually had an app spree late June. With my scores at the time in the 650's, I got 3/3 Instant approvals. AMEX BCE, Barclays Arrival World and Discover IT. If I had waited, I would more than likely had gotten higher limits with my new scores. Im going to stay in the Garden for a long time now and get those CL's up in the meantime.


02-2012 FICO Score: EX 500 EQ 500 TU 500
09-2013 FICO Score: EX 653 EQ 627 TU 651
10-2014 FICO Score: EX 753 EQ 715 TU 757
Goal FICO Score: EX 800 EQ 800 TU 800
Regular Contributor
jd352
Posts: 287
Registered: ‎05-15-2013
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Re: Sallie Mae & Nelnet TL's falling off reports!!

Very nice news! I hate that creditors refuse to remove baddies when you make good on a mistake. I understand the responsibility aspect, but 7 years is a long time considering how long we live.


NPSL............... $20,700........... $15,200.......... $5,000............ $15,000............ $20,000
Current Scores: Equifax: 761 (Fico) TransUnion: 751 (Fico) Experian: 768 (Fico)
Regular Contributor
Cookie2120987
Posts: 142
Registered: ‎03-07-2014
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Re: Sallie Mae & Nelnet TL's falling off reports!!

Congrats!  Long time to wait though.. I know your pain and I know several others must as well, Nelnet and Fed loan REFUSE to even touch any baddies.  Why should early life mistakes effect us during 7 of our most important years... it just blows my mind all together that they won't budge at all, not even a few months early..

Current cards. Capitol One: QuickSlver One $3,500 and $300 (AU) Capitol one secured $520 and $200 (AU) Élan Finicial $2,000 And $2,000 (Joint) Walmart $600 Amazon Store Card $600 Gamestop Credit Card $550 total credit $10,270 started at $200 12/1/2013 :smileyhappy:
Starting score 2/18/2013 486 Current scores, MyFico 9/21/2014 Equifax 634 Transunion 643 Experian 641
Member
DraconTesla
Posts: 21
Registered: ‎07-01-2014
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Re: Sallie Mae & Nelnet TL's falling off reports!!

So if they wont remove them from the report what is the advantage of paying the loan thats in default at all? If you dont pay will it fall off the report in 7 years?

Regular Contributor
Cookie2120987
Posts: 142
Registered: ‎03-07-2014
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Re: Sallie Mae & Nelnet TL's falling off reports!!


DraconTesla wrote:

So if they wont remove them from the report what is the advantage of paying the loan thats in default at all? If you dont pay will it fall off the report in 7 years?


Wage garnishment? I'm curious to that as well thou if you just avoid the collections and somehow avoid garnishment and taxes, what happens after seven years,, I'd assume eventually they would just take your tax refund if any but I'm curious...

Current cards. Capitol One: QuickSlver One $3,500 and $300 (AU) Capitol one secured $520 and $200 (AU) Élan Finicial $2,000 And $2,000 (Joint) Walmart $600 Amazon Store Card $600 Gamestop Credit Card $550 total credit $10,270 started at $200 12/1/2013 :smileyhappy:
Starting score 2/18/2013 486 Current scores, MyFico 9/21/2014 Equifax 634 Transunion 643 Experian 641
Established Member
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Posts: 15
Registered: ‎09-06-2013
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Re: Sallie Mae & Nelnet TL's falling off reports!!


Cookie2120987 wrote:

DraconTesla wrote:

So if they wont remove them from the report what is the advantage of paying the loan thats in default at all? If you dont pay will it fall off the report in 7 years?


Wage garnishment? I'm curious to that as well thou if you just avoid the collections and somehow avoid garnishment and taxes, what happens after seven years,, I'd assume eventually they would just take your tax refund if any but I'm curious...


They place you in the Federal Tax Offset Program and any reunds your due will go straight to the lender/guarantor first. If anything is leftover, you recieve the rest.


02-2012 FICO Score: EX 500 EQ 500 TU 500
09-2013 FICO Score: EX 653 EQ 627 TU 651
10-2014 FICO Score: EX 753 EQ 715 TU 757
Goal FICO Score: EX 800 EQ 800 TU 800
Established Member
A-NONYMOUS
Posts: 15
Registered: ‎09-06-2013
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Re: Sallie Mae & Nelnet TL's falling off reports!!

After 3 weeks of back and forth with Sallie Mae and Equifax, I recieved a call from Equifax this morning, and they have removed the negative Sallie Mae tradeline from my report :smileyvery-happy:

 

That myFICO score is now 707 :smileyvery-happy:

 

I no longer have any baddies on any of my Credit Reports :smileyvery-happy::smileyvery-happy::smileyvery-happy:


02-2012 FICO Score: EX 500 EQ 500 TU 500
09-2013 FICO Score: EX 653 EQ 627 TU 651
10-2014 FICO Score: EX 753 EQ 715 TU 757
Goal FICO Score: EX 800 EQ 800 TU 800
Regular Contributor
ChargeItPlease
Posts: 212
Registered: ‎11-06-2013
0

Re: Sallie Mae & Nelnet TL's falling off reports!!

Congrats. That must be a wonderful feeling.

Starting Score: 400s (2011) Current: EQ 655 (01-2014) Goal: 700 Last app: 01-01-14. No apps 'til 12-2014!

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